Miscellaneous
Verizon Wireless
600 W Prien Lake Rd, Lake Charles, LA 70601
Listing Price: $1,725,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Verizon Wireless located in Lake Charles, Louisiana. This Verizon offers a corporate guaranteed lease with two, five-year tenant renewal options. There are 10 percent increases every five years in each option period with the next increase in July 2027. The property has a brand-new roof that was installed in 2024, with a 20-year warranty in place. This is also a long-term tenant in place for nearly 20 years, proving a strong commitment to the site.
This Verizon has a superior location compared to its competitors in the local market. The Property is an outparcel to Prien Lake Mall, located at a signalized intersection. Prien Lake Mall is a thriving Simon, indoor shopping mall anchored by Kohl’s, T.J.Maxx, HomeGoods, Dillard’s, Dick’s Sporting Goods, Cinemark 14, featuring all-digital technology and stadium seating. The Subject Property also benefits from being located directly off Interstate 210, with more than 62,000 vehicles daily.
Other surrounding national brands include Walmart Supercenter, Sam’s Club, Target, Kroger, Albertsons, Hobby Lobby, Marshalls, Best Buy, Ross, Planet Fitness, La-Z-Boy Furniture, The Vitamin Shoppe, Petco, Mattress Firm, Men’s Wearhouse, McDonald’s, Chick-fil-A, Panera Bread, Olive Garden, Texas Roadhouse, Denny’s, Wendy’s, Popeyes Louisiana Kitchen, Buffalo Wild Wings, Tires Choice, Holiday Inn Express, Home2Suites by Hilton, Residence Inn, Wingate by Wyndam, Hampton Inn and many more.
Lake Charles is located in the southwest region of the state and is a thriving destination that caters to many different tastes from glitzy casinos and the quiet greens of award-winning golf courses. The Property is less than three miles from L’Auberge Casino Resort Lake Charles, a major tourist destination in the area supporting the economy and employing over 2,400 people; and three miles from Golden Nugget Lake Charles Hotel & Casino. The presence of casinos and resorts has made gaming and tourism a vital part of the economy. This sector not only provides jobs but also attracts tourists, contributing to hospitality and retail growth.
Verizon Wireless
Investment Highlights
- Corporate Guaranteed Lease With Verizon Wireless
- 2, 5-Year Tenant Renewal Options With 10% Rent Increases Every 5 Years Throughout Option Periods – Next Increase in July 2027
- New Roof in 2024 With 20-Year Warranty in Place
- Long-Term Tenant, in Place for Nearly 20 Years
- This Verizon Has a Superior Location as Compared to its Competitors in the Local Market – Outparcel to the Mall and Located at a Signalized Intersection Off Interstate 210
- Outparcel to Prien Lake Mall, a Thriving Simon Indoor Shopping Destination, Anchored by Kohl's, T.J.Maxx, HomeGoods, Dillard's, and Dick's Sporting Goods, Featuring a Cinemark 14 With All-Digital Technology and Stadium Seating – Located at the Entrance of the Mall at a Signalized Intersection
- Directly Off Interstate 210, Supporting Both Local and Regional Travel and Commerce in Lake Charles, With More Than 62,000 Vehicles Daily
- Busy Retail Corridor – Other Surrounding National Brands Include Walmart Supercenter, Sam's Club, Target, Kroger, Albertsons, Hobby Lobby, Marshalls, Best Buy, Ross, Planet Fitness, La-Z-Boy Furniture, The Vitamin Shoppe, Petco, Mattress Firm, Men's Wearhouse, McDonald's, Chick-fil-A, Panera Bread, Olive Garden, Texas Roadhouse, Wendy's, Popeyes Louisiana Kitchen, Buffalo Wild Wings, Tires Choice, Holiday Inn Express, Home2Suites by Hilton, Residence Inn, Wingate by Wyndam, Hampton Inn and Many
Exclusively Listed By
Broker of Record
-
Steve Greer
First Vice President Investments
Listing Price: $1,725,000
Investment Highlights
- Corporate Guaranteed Lease With Verizon Wireless
- 2, 5-Year Tenant Renewal Options With 10% Rent Increases Every 5 Years Throughout Option Periods – Next Increase in July 2027
- New Roof in 2024 With 20-Year Warranty in Place
- Long-Term Tenant, in Place for Nearly 20 Years
- This Verizon Has a Superior Location as Compared to its Competitors in the Local Market – Outparcel to the Mall and Located at a Signalized Intersection Off Interstate 210
- Outparcel to Prien Lake Mall, a Thriving Simon Indoor Shopping Destination, Anchored by Kohl's, T.J.Maxx, HomeGoods, Dillard's, and Dick's Sporting Goods, Featuring a Cinemark 14 With All-Digital Technology and Stadium Seating – Located at the Entrance of the Mall at a Signalized Intersection
- Directly Off Interstate 210, Supporting Both Local and Regional Travel and Commerce in Lake Charles, With More Than 62,000 Vehicles Daily
- Busy Retail Corridor – Other Surrounding National Brands Include Walmart Supercenter, Sam's Club, Target, Kroger, Albertsons, Hobby Lobby, Marshalls, Best Buy, Ross, Planet Fitness, La-Z-Boy Furniture, The Vitamin Shoppe, Petco, Mattress Firm, Men's Wearhouse, McDonald's, Chick-fil-A, Panera Bread, Olive Garden, Texas Roadhouse, Wendy's, Popeyes Louisiana Kitchen, Buffalo Wild Wings, Tires Choice, Holiday Inn Express, Home2Suites by Hilton, Residence Inn, Wingate by Wyndam, Hampton Inn and Many
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Verizon Wireless located in Lake Charles, Louisiana. This Verizon offers a corporate guaranteed lease with two, five-year tenant renewal options. There are 10 percent increases every five years in each option period with the next increase in July 2027. The property has a brand-new roof that was installed in 2024, with a 20-year warranty in place. This is also a long-term tenant in place for nearly 20 years, proving a strong commitment to the site. This Verizon has a superior location compared to its competitors in the local market. The Property is an outparcel to Prien Lake Mall, located at a signalized intersection. Prien Lake Mall is a thriving Simon, indoor shopping mall anchored by Kohl’s, T.J.Maxx, HomeGoods, Dillard’s, Dick’s Sporting Goods, Cinemark 14, featuring all-digital technology and stadium seating. The Subject Property also benefits from being located directly off Interstate 210, with more than 62,000 vehicles daily. Other surrounding national brands include Walmart Supercenter, Sam’s Club, Target, Kroger, Albertsons, Hobby Lobby, Marshalls, Best Buy, Ross, Planet Fitness, La-Z-Boy Furniture, The Vitamin Shoppe, Petco, Mattress Firm, Men’s Wearhouse, McDonald’s, Chick-fil-A, Panera Bread, Olive Garden, Texas Roadhouse, Denny’s, Wendy’s, Popeyes Louisiana Kitchen, Buffalo Wild Wings, Tires Choice, Holiday Inn Express, Home2Suites by Hilton, Residence Inn, Wingate by Wyndam, Hampton Inn and many more. Lake Charles is located in the southwest region of the state and is a thriving destination that caters to many different tastes from glitzy casinos and the quiet greens of award-winning golf courses. The Property is less than three miles from L’Auberge Casino Resort Lake Charles, a major tourist destination in the area supporting the economy and employing over 2,400 people; and three miles from Golden Nugget Lake Charles Hotel & Casino. The presence of casinos and resorts has made gaming and tourism a vital part of the economy. This sector not only provides jobs but also attracts tourists, contributing to hospitality and retail growth.
Exclusively Listed By
Broker of Record
-
Steve Greer
First Vice President Investments
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